Middle East Tensions Rise, US Stocks Retreat from Record Highs
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Escalating tensions in the Middle East led to a rebound in oil prices, fueling inflation concerns. US stocks retreated from record highs on Monday as investors locked in profits. The Dow Jones Industrial Average fell 620.72 points, the S&P 500 dropped 56.10 points, and the Nasdaq Composite lost 239.92 points. The Philadelphia Semiconductor Index bucked the trend, rising 190.69 points.